| Schedule of component of income tax expense |
The
major components of income tax expense recognized in profit or loss for the periods ended December 31, 2025 and 2024 were:
Schedule
of component of income tax expense
| | |
July 1, 2025
to | | |
July 1, 2025
to | | |
July 1, 2024
to | |
| | |
December
31, 2025 | | |
December
31, 2025 | | |
December
31, 2024 | |
| | |
US$ | | |
S$ | | |
S$ | |
| | |
| | |
| | |
| |
| Current income tax | |
| | | |
| | | |
| | |
| - Current year | |
| 202,923 | | |
| 260,939 | | |
| (388 | ) |
| - Deferred tax credit | |
| (66,144 | ) | |
| (85,055 | ) | |
| - | |
| Income tax expense recognized
in profit or loss | |
| 136,779 | | |
| 175,884 | | |
| (388 | ) |
|
The
major components of income tax expense recognized in profit or loss for the periods ended June 30, 2025 and 2024 were:
Schedule
of component of income tax expense
| | |
2025 | | |
2025 | | |
2024 | |
| | |
US$ | | |
S$ | | |
S$ | |
| | |
| | |
| | |
| |
Tax recognized in profit or loss | |
| | | |
| | | |
| | |
| Current tax expense | |
| | | |
| | | |
| | |
| Current year | |
| - | | |
| - | | |
| 383,453 | |
Changes in estimates related to prior years | |
| (328,165 | ) | |
| (417,393 | ) | |
| (2,252
| ) |
| Tax recognized in profit
or loss | |
| (328,165 | ) | |
| (417,393 | ) | |
| 381,201 | |
Deferred tax expense | |
| | | |
| | | |
| | |
| Recognition of tax effect of previously unrecognised tax losses | |
| - | | |
| - | | |
| (49,440 | ) |
| Deferred tax expense | |
| - | | |
| - | | |
| (49,440 | ) |
| Tax (benefit)/expense on continuing operation | |
| (328,165 | ) | |
| (417,393 | ) | |
| 331,761 | |
|
| Schedule of reconciliation between tax expense and corporate tax rate |
A
reconciliation between tax expense and the product of accounting profit multiplied by the applicable corporate tax rate for the financial
periods ended December 31, 2025 and 2024 were as follows:
Schedule of reconciliation
between tax expense and corporate tax rate
| | |
July
1, 2025 to
December
31, 2025 | | |
July
1, 2025 to
December
31, 2025 | | |
July
1, 2024 to
December
31, 2024 | |
| | |
US$ | | |
S$ | | |
S$ | |
| | |
| | |
| | |
| |
| Profit/(loss)
before tax | |
| 261,561 | | |
| 336,342 | | |
| (316,643 | ) |
| | |
| | | |
| | | |
| | |
| Income tax using the statutory tax rate of
17% -2024: 17% | |
| 44,465 | | |
| 57,178 | | |
| (53,829 | ) |
| Effects of: | |
| | | |
| | | |
| | |
| - Tax effect of items
not separately disclosed | |
| 92,314 | | |
| 118,706 | | |
| 53,441 | |
| Income tax expense | |
| 136,779 | | |
| 175,884 | | |
| (388 | ) |
|
A
reconciliation between tax expense and the product of accounting (loss)/profit multiplied by the applicable corporate tax rate for the financial
periods ended June 30, 2025 and 2024 were as follows:
Schedule of reconciliation
between tax expense and corporate tax rate
| | |
2025 | | |
2025 | | |
2024 | |
| | |
US$ | | |
S$ | | |
S$ | |
| | |
| | |
| | |
| |
| (Loss)/Profit before tax | |
| (8,690,598 | ) | |
| (11,053,571 | ) | |
| 2,404,561 | |
| | |
| | | |
| | | |
| | |
| Income tax using the statutory tax rate of 17% (2024: 17%) | |
| (1,477,402 | ) | |
| (1,879,107 | ) | |
| 408,775 | |
| Effects of: | |
| | | |
| | | |
| | |
| - Non-deductible expenses | |
| 1,467,625 | | |
| 1,866,671 | | |
| 16,416 | |
| - Income not subject to tax | |
| - | | |
| - | | |
| 83,039 | |
| - Income tax exemption | |
| (13,700 | ) | |
| (17,425 | ) | |
| (75,350 | ) |
| - Utilisation of capital allowance | |
| (353 | ) | |
| (449 | ) | |
| (1,322 | ) |
| - Utilisation of deferred tax assets not recognised in prior year | |
| - | | |
| - | | |
| (56,037 | ) |
| - Deferred tax asset not recognized during the financial year | |
| 23,830 | | |
| 30,310 | | |
| 7,932 | |
| - Recognition of tax effect of previously unrecognised tax losses | |
| - | | |
| - | | |
| (49,440 | ) |
| -Underprovision
in respect of prior years | |
| 279 | | |
| 355 | | |
| - | |
| -Overprovision in respect of prior years | |
| (328,444 | ) | |
| (417,748 | ) | |
| (2,252 | ) |
| Income tax (benefit)/expense | |
| (328,165 | ) | |
| (417,393 | ) | |
| 331,761 | |
|